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No energy on Wall Street

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September 4, 2008 • Reprints

Falling energy stocks dragged Wall Street down, the Financial Times reports, with crude oil falling as far as $8 per barrel. The sector has fallen 18.7 percent for the quarter. Materials fell 2.5 percent on Tuesday, and dropped 9.2 percent over the quarter.

While Hurricane Gustav may have weighed heavily on oil stocks, it gave other energy sensitive stocks a boost, the Times writes. Delta, United and AMR each rose over 11 percent; General Motors rose 6.5 percent to $10.65, and Ford added 1.12 percent to trade at $4.51.

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